March 27, 2014
FOR EDUCATIONAL PURPOSES ONLY
Yesterday afternoon showed a major move down. This tilts short term trend down for today. Therefore, look for shorts today. Today, price follows through down. Then rallies above Mid Keltner Channel
line. And STALLS.
At 11:40, price breaks below low of previous two 5 minute bars. This was a short entry at highest green line about 1845.25. Note the small “BOX” here denoted by dotted box. If shorted, stop loss
should be above this box.
Another box forms lower than first. The Low of this box is just above yesterdayʼs close (red line). The low of this box AND the close of yesterday was broken at 11:05 with a wide range bar. Is this a Mini “Yum-Yum”? Short at 1842.25. Stop loss was originally just above 1844. This was TOO TIGHT. I moved to 1845.25.
Note the mini Head and Shoulders top. Left Shoulder at 10:05 high. Head at 10:25 high. Right Shoulder at 10:45 high. The break of the Neck Line shows a target of 1838.25.
Lundy Stafford Hill